Is XRP Eyeing $2 By the End of October?

Is XRP Eyeing $2 By the End of October?
  • XRP rises upto 10.34% highest in the past 24 hours.
  • XRP’s current market shows complete bullish trends.
  • Analysts predict XRP to reach $2 by the end of October.

Being among the top ten cryptocurrencies obviously adds up immense pressure and responsibilities for the top ten. Besides fighting constantly to maintain their dominance, they have to profusely develop their technology too. 

Amidst all this, the 6th ranking upon the top cryptos, the XRP has been quite promising in recent times. The prices have been steadily on the rise for the past few days. In spite of this and also taking its graphs into consideration, many expect XRP to cross the $2 target by the end of October 2021. 

October 2021 Trend of XRP  

Taking the last 24 hours into consideration, XRP has locked the highest of the week gains of 10.34% a few hours back. Accordingly, the price surged up to $1.2082 making it the highest price for the past 1 month time period. 

Ever since the start of October 2021, XRP has been performing steadily, surging up in a rather composed manner. Moreover, the present overall market cap for XRP values about $54.73 Billion. 

Moreover, taking the past 7 days into consideration, the value of XRP has spiked up about 12.42%. Also, the price has increased from $1.037 to the highest of $1.2. 

In addition, all the hype added to XRP’s current market trend has made many analysts dig deeper. Accordingly, many predict that the graphs of XRP are showing a complete bullish trend throughout the month of October. 

In spite of this, if everything goes without the interference of any other external factors, then it’s predicted that by the end of October, XRP will cross the mark of $2 efficasely. 

Factors Affecting XRP Price

However, many external factors ought to be at play though for the price of XRP. Ever since the SEC lawsuit on Ripple, many exchanges feared and removed XRP from their listings, making its price plunge down. 

Moreover, Ripple’s strong stand against the U.S Securities and Exchange Commission (SEC) lawsuit has recently persuaded the overall enthusiasts. Until any final judgment prevails in favor of the U.S SEC, then XRP price will be on the surge with Ripple’s backup.

On the other hand, constant trouble comes from the next-in-line rival, the Solana (SOL). Likewise, by the second week of September, SOL took the position of 6th place dethroning XRP. However, it was short-lived and just within a few days, XRP gained back its throne. 

Therefore, trouble from the SOL is also another added factor that will cause the price of XRP to fall.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.